Progeny Group has acquired an Edinburgh-based wealth management and financial advice firm, marking the group’s first foray into Scotland.

Innovate Financial Services is a 10-year-old firm led by founder Chris Donald, and offering a range of wealth and retirement planning services.

“Over the last decade Innovate has built its reputation as the financial planning and wealth management firm of choice in Edinburgh,” Progeny said in a statement announcing the deal, the financial terms of which were not disclosed.

Progeny Group acquired a London-based IFA Evolve Financial Planning in July 2018, at which point ...